DOE: Israel conflict won’t affect oil pricesPalestinians inspect the damage following an Israeli airstrike on the Sousi mosque in Gaza City on October 9, 2023. MANILA, Philippines — The Department of Energy (DOE) does not expect the attacks on Israel to have long-term effects on oil and gas prices, unless the conflict escalates. Abad said based on the first two trading days of the week, global oil prices have actually gone down. But the crude oil price is a benchmark for Malampaya price. So if crude oil prices increase, then Malampaya price will follow.
